Spot Gas Price in Europe Rises above $ 100 for First Time since End of March

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The spot price of gas with delivery the next day at the Austrian hub in Baumgarten crossed the $ 100 per 1,000 cubic meters yesterday (for the first time since the end of March), according to trading data.

The current quotation is 8.209 euros per MWh ($ 100.1 per thousand cubic meters), and the maximum is 8.4 euros per MWh ($ 102.4 per thousand cubic meters). Last week, spot quotes in Austria averaged $ 76 per thousand cubic meters.
As noted by Bloomberg, gas prices are pushed up by the establishment of hot weather in Europe, which leads to an increase in the use of energy for air conditioning. In addition, due to repairs, gas supplies from Norway have decreased. 


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